Letter: Flawed attitudes about insurance
Monday, April 9, 2012
The April 2 Columbian story “Insurance requirement not only mandate” included a statement about San Diego business owner Lindsey Donner: “In the past they (the Donners) had a health plan with a high deductible, but they found they were paying monthly premiums for insurance they never used.” Please pause for a moment to let the absurdity of that statement to sink in.
The law requires you to insure your car. Generally speaking, you never want to have to use the benefits of this insurance but you must have insurance coverage.
Health insurance works the same way except it is voluntary. You pay the premiums for any insurance in case you need it. The difference is that liability car insurance is only required to protect “the other guy” or the lienholder on the car if you are not the legal owner. Health insurance only protects the person paying the premium.
If you are willing to risk the costs of medical problems, don’t buy insurance. For people who want insurance but can’t afford it, set up an insurance premium subsidy paid for by a combination of fees from the health care and health insurance industries and the insured.
On the other end, find a way to reduce health care costs by using market forces. The health care industry has no incentive to reduce costs because they know insurance or government will pick up the tab.